tv [untitled] September 7, 2011 2:31am-3:01am EDT
the in-depth look into the euro zone's debt troubles the interview coming up. i'm joined by professor roland fallible of the university of mannheim in southwestern germany and he's here to talk with us about the fate of the you're right mr fallible thank you very much for joining us well as expected to court didn't stop a second bailout and germany's participation in it but how do you think its decision may make future bailouts more difficult the complaint has been that. the bail out. is inconsistent with. the budgetary law. because it's an open ended commitment. but in fact it's it's limited informed but it may make a lot more. and the second problem.
is that the democracy principle. is. not observed to procedural it's being rather general not very detailed. and. the problem is that. the bail out is likely to impair the stability of the europe. because so it. will lead to more and more government debt. and if the various member states increase their debt they. at the same time. subject to a stronger and stronger incentive to inflate to inflate the debt away but to support them. so they would exert pressure on the european central bank which they have done already last year and this year and the european central bank. the
central bank cals. who of course want to be reappointed by their governments they're not so independent they want to be pointed they may give in to this pressure on these others through problems and how much does this undermine the integrity of the. wider consequences of this this these pay all this will not continue. that will be stopped and with the. government to also many people in the government who don't really like since the liberal party doesn't really like it but they feel they are too weak to stop it and . knowledge they. can use the. this decision to. to oppose generous bailouts let's go back to what started all of this and greece how strongly would you describe the
anger being directed at greece now. in germany the anger is so enormous. all. the majority of the people who have been called absolutely against since. the economists or all this or even more so i would say. greece is really the ball still fall because so. the previous greek government has been very spendthrift has accumulated very large deficits even before the financial crisis. greece has been a member state of the euro zone which has most frequently violated its stability and growth pact. so they are really conseco that they are the victims of the financial crisis. affected was not only the conservative government before this
one but also the. socialist government before the conservative government solids that's a real greek problem it's not a party problem. and then we see that. the greeks are buying gold with the money they get from the bailout fund very unpopular and they are not really implementing the conditions. which had been attached with the credits. and. it is well known that tax morag is very poor increasing so saw the germans very upset about greece much more baku son aboard portugal and. some people started to comment that the markets are looking worryingly like they did before lehman brothers collapsed three years ago how serious is this financial crisis that we're in. i think the crisis is
so not not serious it's not comparable to lehman brothers. lehman brothers panic was due to the fact that there was a medium sized bank that's one thing which collapsed and people didn't call. any further paints would also be allowed to collapse and whether the money supply would contract as happened in the great depression saw it was so there was a lot of uncertainty. since the financial crisis however we have. to support failing banks we have the experience that the governments have supported the failing banks and the money supply has not contracted and the monetary base has also not contracted so that we have had the experience that the governments are.
very well able to deal with the crisis there is a growing chorus of voices that says if chris. can't manage its fiscal affairs properly it should suffer the damage what would be the consequences of such a decision were taken to that default. if if the greek government to her default to openly there. is some bangs many bangs would have losses they were tough write downs. the greek banks would not be able to stand and default off of the greek government's we have had many sovereign debt crises in the last thirty years lots of countries have defaulted the government declares a moratorium on recovery and says so we are unable to service that story and can we please have to go she oceans with the banks and the other creditors and then that would be a haircut as it just called. the banks have to swallow it if if if the bailout
funds. not increased any more then. than the default would be inevitable so they are really trying to postpone the inevitable the monetary union of the euro's been going for over a decade now how likely is it that by trying to resolve this crisis we bring for the likelihood of a fiscal union to mirror that. in the fiscal union would weaken the independence of the central bank because if you have. an economic government as sarkozy says to film our economy. then you have a strong contact weigh it against the european central bank and they can put combine political pressure on the european central bank which is bad for all stability of the currency i want to get through this would be really very bad on
the other hand we need more fiscal discipline but the way to get to two. discipline is not a fiscal union in the work in the sense of off for this economic government but to strict rules strict rules for deficits which. with with sanctions in case of fire and this wall see or original idea of stability and growth pact this was excellent but. then the governments decided not to implemented this was in two thousand and five. and what we really need now is revamping the stability and growth pact with automatic sanctions. this would require a change in the treaty. but since the governments want to change the treaty anyhow in order to allow bailouts they could do that so observers in the usa have been watching all of this with increasing consternation and they've been calling for
more europe not less right know how likely is that top of the united states. administration. has two obvious interests first of all they don't want to support their banks again so they want to avoid losses for their banks so they like to bail out. secondly they want. a stimulus for the business cycle in america from abroad they are always willing to accept since the one nine hundred fifty s. we have that so they are always so clamoring for expansion of policies abroad. the bailout. bailouts. prevent the greek government from being as restrictive you need to expenditure policy as it would have to be in the case of a default if you have a default you do not get any more money in the capital market but what we are
having now is there. still get money. from the other governments saw this system is better for the greek government then why do you fault and it would lead to. war government expenditure then in the case of a thief some commentators have been saying that in the efforts to try and solve this crisis the likelihood of a united states of europe as it's being called is growing ever closer if that did come about what do you think it would look like i think initially it would be. less centralized than the united states of america. would be more like switzerland or canada. but we know from history that once you create a federal state. there are strong forces for more centralized and. this has even been the case in switzerland. not in canada but that's this very
special. that's very special because in canada we have. a province of quebec which is quite powerful and would try. tries to prevent a sense of isolation and maybe maybe britain maybe britain will will be with the club because of fuel. slowing the stone but the question is of course whether britain will want to remain in this type of federal state professor travel thank you very much for your time. culture is that so much of the taxpayers' money i mean on one side says yeah real mysterious is it time to write you make sure you put the euro as
a single currency reels from one crisis to the next europe's politicians appear to be powerless in the face of a. commission free accreditation free transport charges free. range month free risk free. free. download free broadcast plug in video for your media projects and free media oh god our teeth dot com. we'll. bring you the latest in science and technology from around russia. we've got the future covered.
franc that used to be a monetary safe haven to the euro currency. at least nine people killed forty five injured in a bomb blast near the high court in new delhi india preliminary reports suggest the explosives were left in a suitcase near the building. a number of could aafia loyalists including his security chief leave libya for neighboring the share with the whereabouts of the colonel himself still on though and this is concerns grow over what kind of regime could eventually replace him. and the social russian city of jaroslav turns into a global think tank as the world policy forum kicks off their multiculturalism and global security the most pressing issues on the table at the meeting. turning out of course with iran closer of so this new yorker will tell you that september can be a rainy month and it looks like that that may have a big effect on the u.s.
open absolutely the cancellation of the day nine it will probably affect players differently now some might say all this extra time now on the other hand some might lose momentum now we're at the quarter final stage on the ladies side that words to russians are still in contention and i'll tell you who they are in just a moment stick around. hello welcome to sport here in artsy come and see a live from moscow with me on calls for plenty of stories op-ed but first the headlines. goal this role russia failed to beat arlin's in their all important you wrote when to put it fire here in moscow despite plenty of chances. flushed in new york the u.s. open was halted flushing meadows as showers forced the organizers to cancel day
nine of the grand slam event. and to clear skies in serbia russian parachute masters dominated the european freefall style and accuracy landing championships. and we start with football where euro twenty as well qualifiers were held across the continent on tuesday nights russia missed the chance to extend their lead at the top of group b. as they were held to a frustrating goal this draw by arlen's richard ford fleet has more. russia came into a clash of violent knowing they were up against a side but hadn't conceded a goal in the last six matches however the home team went out to a night run and andrea sharyn went close here only to beat annoyed by a smart start one of his just keep push a given given who is a dive of the match but once again for the home team as he flung himself to his right to do the eagle some short of what would have been his second goal in four
days for his country however when the irish people is finally beaten he had richard dunne to frank next a moot point because the count's men have a bowl full to some showing oceans of space however they did on the most primitive field his effort was brilliantly stopped on the line by the aston villa central defender somehow the visitors went into the half time break goalless by the russians throwing thirteen shots on goal to islands one. russia continue to dominate after the resumption andrea shoving was once again excellent for the home side though he was house enormously above the arash defenses reluctance to closing down yourself or would find some shot again however of thirty three year old elected to past a roman publishing co when trying to get a shot on target would surely have been the better option with time running out of the russians threw everything at a resolute arash defense in just two minutes from time concern seems the owner of thought he'd won it for dick of the count's men but given was once again in the
right place of the right time to deny a busy midfielder with his legs to russia had to settle for points because said his side's pull finishing rather than ireland's resolute defending was the main reason his team failed to get a much needed win. with. score it was all respect you know. but. even the first. even. if you can do that. a lot of confidence an excellent result for ireland to stay well in contention to try and qualify automatically for next year's european championships and giovanni trapattoni was full of praise for his side. the determination in their position of the players especially the senior players like done given and mcginty was actual and this gave the younger members of our squad so much inspiration this helped us
get what i believe was a golden point so russia missed a golden opportunity to extend their lead at the top of group b. and valmeyer face a crucial encounter in bratislava next on the seventh of october richard. moscow. clashes slovakia missed a chance to join russia at the summit they were trashed by armenia four nil at home in g.b. and with all goal scored in the second half and macedonia. zora and hold one nil and let's bring up those standings now russia are unsolved with seventeen points despite the fact that the scene have been scoreless in two home games arlin's are two points behind and will go to the bottom three months or a full their next match armenia are third at this point and will face macedonia next while slovakia are in fourth meeting when their next home encounter against the leaders of the russia. and the us open which has been halted the radio weather
in new york several matches were scheduled to choose day including the remaining men's fourth round clash featuring rafael nadal and two women's quarterfinals where russia. would have been up against australia some mountains stole sort of the organizers rescheduled all the ties for once they but again it will all be up to the weather as showers continue in new york so let's take a look at who made it into the next round before it started raining over there in new york two russian ladies are in the quarter final stage however this. is not one of them as she was knocked out by world number one carolyn he had looked to be in control midway through the match as set up and leading the one in the second but was now he is in the world number one for nothing but dane who had suffered back to back opening rounds of peace in toronto and cincinnati right before this event stormed back in the second to take it seventy five and then left her opponent no
chance braving the decider six one and the match. to it was pretty strong out there so it came from. one side and. yeah i mean from one side you really have to hit through the ball going in from the other side if you had to i shall not to play. yeah i mean it was a surprise. yeah we have a few of those before. here two years ago. moving out of the qualifiers from russia malware on us that's yet public cenk about so-called francesca schiavone in the last sixteen the russian the last of the italian that are on in their previous three grand slam meetings but the twenty year old improved on that record by winning five seven six three six four so tomorrow and public are now the sole russian ladies with a chance to take the title at flushing meadows. let's move on so i saw canal and some exciting news for young european players the kontinental hockey league is
already a well recognized brand name among fans of the sports its latest project the n.h.l. was founded in two thousand and nine and is already becoming a major ice hockey league for junior players in europe at inception it consisted of only twenty two teams from russia but the following year the number of teams grew should see nine and clubs from latvia and bill roos were added as well that's when the eleven season will see fifty sides from six countries compete for the title majority of the sides are still from russia however the league is growing far beyond the country's borders into slovakia latvia lithuania bellerose and. the n.h.l. will now be divided into two groups with thirty two teams competing for the higher level trophy in group a group b. will house eighteen or lower ranked clubs where the best two teams will be promoted to the top flight the following season the main objective of this league is to offer players a chance to grow as athletes without leaving their countries as nearly fifteen
hundred youngsters will play in the n.h.l. next season. to completion is key for young players skilled perfection the junior hockey league has been developing dynamically and strictly in accordance with the tasks said by its founders one of which was to create the strongest to youth leak in the world if we achieve that it will decrease the outflow of young promising. and finally whatever goes up must come down and these guys make a living out of it said the russian parachute masters recently dominated at the european freefall freefall theil and accuracy landing championships in serbia even the gorski looks at the trials and tribulations faced by those high flying and fast landing competitors. ascending to cruising altitude of one thousand meters is followed by a swift freefall back down with virtually no margin of error the competitors are
expected to land on a dime with a dead center sweet spot only two centimeters in diameter and while such consistent precision landings may seem far fetched to the uninitiated they are considered to be the fundamentals of the sport. of woods every athlete must always learn the basics of their sport before going any further calculating a jump is the most fundamental aspect of parachute sports and safety that's why i believe we youngsters should start with the classic parachuting discipline we've got kids coming in at sixteen years old some of who go on to become junior world champions by twenty will the individual acrobatics program meanwhile requires one to twist and turn in the air at an alarming rate and simply executing flashing criss movements is not enough either. the judges getting the opposite of bird's eye view for this event to see if participants can keep a straight of the trajectories possible while they perform the flips and like in
every sport be a successful high flying daredevil requires a specific skill set and personality but if things. besides being brave i believe anyone participating in this will must be physically developed and have coordination will fit will definitely help for insurance while playing billiards will help one make more precise landing calculations russian women proving to be the bravest in serbia taking the overall honors in dominating fashion. that check showed just a little bit more savvy than the russians in the men's event goal to win gold frenchwoman deborah clegg for zero meanwhile said the world record for her lending persuasion six consecutive landings just one centimeter off putting her exactly where she wanted to be every time a total of seventeen countries taking to the skies but russia's main parachuting man hopes for more local support in getting high truth. we humans have always had dreams of reaching for the skies and flying we created planes and rockets and the
school that we have today is another manifestation of that desire to fly safely our government will notice and help our efforts allowing us to raise our level of performance. and while the more grounded sports seem to get more exposure these daredevils are hoping this competition continues to take off in russia and worldwide even sikorsky r.t. . i'll be back with another update in a couple of hours meanwhile our youtube channel is available at any time look for our team sport news hope you'll like it season hungry for the full story we've got it for. the biggest issues get a human voice face to face with the news makers.
a bomb blast near the high court in new delhi india elementary reports suggest explosives were left in a suitcase near the building. calls for independence from the u.k. grow louder in wales where high nationalist sentiment is coupled with a desire to have control over its own economy. and nominees are now at the third annual global policy forum here and we're today's focus is security and multiculturalism join me later in the program for more details. eleven am in moscow good to have you with us here on our t.v. our top story hundreds of thousands of people in italy have protested the government's fresh austerity measures announced tuesday in.